Bharat Doshi
executive director, finance & corporate affairs, Mahindra & Mahindra
What is the outlook for the utility vehicle (UV) market?
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We believe that the slew of model launches will only expand the UV market, eventually eating into the share of mid-sized passenger car segment. Globally also, the share of UVs has gone up sharply, from minuscule levels to almost 50 per cent of the market in developed countries like the US. Even in the Asian region, UV penetration is as high as 40 per cent of the total wheeler passenger segment, compared with around 17 per cent in India. With the mid-size car and UV segments becoming seamless, the UV industry in India will move towards the Asian average. We expect a growth of about five per cent in the overall UV market.
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